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11 Feb 2021 ATO Rulings

Class Rulings

CR 2021/11 Village Roadshow Limited - disposal of shares

CR 2021/11 sets out how the relevant income tax provisions apply to Australian-resident shareholders of Village Roadshow Limited (VRL) who disposed of their VRL shares to Village Roadshow Corporation Pty Ltd (VRC) under VRL's Structure A Scheme.

Date of effect: This Ruling applies from 1 July 2020 to 30 June 2021.

CR 2021/12 Salary Packaging Australia Pty Limited - benefits provided to fly-in fly-out employees

CR 2021/12 sets out the fringe benefits tax consequences of providing airline travel benefits to fly-in fly-out employees of employers administered by Salary Packaging Australia Pty Limited.

Date of effect: This Ruling applies from 1 April 2020 to 31 March 2025.

CR 2021/13 GetSwift Limited - exchange of shares for GetSwift Technologies Limited shares and amendment of options and employee awards

CR 2021/13 sets out the income tax consequences for Australian-resident shareholders and option holders (including holders of employee award options) in GetSwift Limited (GetSwift Australia) that exchanged their GetSwift Australia shares for GetSwift Technologies Limited (GetSwift Canada) shares and/or had their options in GetSwift Australia amended under the scheme to which this Ruling relates.

Date of effect: This Ruling applies from 1 July 2020 to 30 June 2021.

Practical compliance guidelines

PCG 2021/2: Fuel tax credits - basic method for heavy vehicles 

PCG 2021/2 provides taxpayers with a simplified apportionment method to help them with meeting their fuel tax credit obligations.

You can use the basic method for heavy vehicles to calculate fuel tax credits for diesel used in heavy vehicles if you claim less than $10,000 each year.

The formula for working out the litres of diesel used in a vehicle for travelling on public roads is: Kilometres travelled on public roads × diesel consumption rate.

The off public road formula is: Total litres of eligible diesel – Litres of diesel used in a vehicle for travelling on public roads.

Date of effect: This Guideline applies to diesel acquired on or after 1 October 2020.

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